Tier 1 Entrepreneur Visa - 2 Partners - £100k each

[psankisa]

Hi Team,

We are 2 partners, currently working in UK on long term Tier 2 ICT visa. Been in the UK for about 3 years now.
We would like to set up an IT consultancy in London. We both have access to £100k each, in an Indian bank account. Have all the documentation in place. My question is as follows:

1. Do we literally have to invest all the £200k in our business post getting the visa even if the business dosent demand this amount?

2. Can we switch to Tier 2 general visa after certain time period, say 2 years, if the business dosent do well?

Appreciate your expert views. Cheers.

Regards,
Psankisa.

[marcnath]

Hi Team,

We are 2 partners, currently working in UK on long term Tier 2 ICT visa. Been in the UK for about 3 years now.
We would like to set up an IT consultancy in London. We both have access to £100k each, in an Indian bank account. Have all the documentation in place. My question is as follows:

1. Do we literally have to invest all the £200k in our business post getting the visa even if the business dosent demand this amount?

2. Can we switch to Tier 2 general visa after certain time period, say 2 years, if the business dosent do well?

Appreciate your expert views. Cheers.

Regards,
Psankisa.

Yes to both

[psankisa]

Thank you a lot for the reply.

So, we will have to submit proofs of our £200k investment at the time of extension ? i.e after 3 years of initial leave?

Regards,
PSankisa.

[marcnath]

Thank you a lot for the reply.

So, we will have to submit proofs of our £200k investment at the time of extension ? i.e after 3 years of initial leave?

Regards,
PSankisa.

Yes - have you read the guidelines ? That would be a good place to start

[psankisa]

Thank you.

Have read the guidelines.

The guidance just says one can switch from a tier 2 visa to tier 1 entrepreneur visa within UK. It does not mention tier 2 ICT or tier 2 general or both. Hence the confusion.

[marcnath]

Thank you.

Have read the guidelines.

The guidance just says one can switch from a tier 2 visa to tier 1 entrepreneur visa within UK. It does not mention tier 2 ICT or tier 2 general or both. Hence the confusion.

When they just mention Tier 2, it applies to all categories for Tier 2